Five Minute Method Forex Scalping Strategy

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5 minute method

In this strategy, we will be focusing on the EURUSD pair in a 5 minute timeframe. Here are the indicators in this system.

  • MACD: 12,26,1 (1 means nothing)
  • Stochastic: 5, 3, 3
  • EMA 5 to the close
  • EMA 5 to the open

Note:

  • No trades during news times*
  • Risk is set to 1%*
  • Take profit is random based on market conditions but it is advisable to exit based on the reversal patterns or a cross of the 2 EMAs.
  • Trade signals are only confirmed on closed candle bars.

For BUY signal

  • When the stochastic crosses up from the 20 line and is not ovebought;
  • The MACD closses higher than the previous time interval;
  • The Signal candle bar closes higher bullish;
  • The 5 EMA to the close has crossed the 5 EMA to the open;
  • Set stop loss in the low of the previous candle or 20 pips but 20 pip min.
  • Close when the 5 ema to the close has crossed the 5 ema to the open

For SELL signal

  • When the stochastic crosses down from the 80 line and is not oversold;
  • The MACD closses lower than the previous time interval;
  • The signal candle bar closes lower bearish;
  • The EMA 5 to the close has crossed the EMA 5 to the open;
  • Set stop loss in the high of the previous candle or 20 pips but 20 pip min.
  • Close is based on price action.

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